Trump Media stock's many ups and downs in just 1 month
In the month since it debut on the Nasdaq, Trump Media & Technology Group’s market value has soared to almost $10 billion, and plunged to below $4 billion. The volatile stock performance has been driven by a “meme stock”-like frenzy and regulatory disclosures that shaved several billions of dollars off of its market cap.
Take a look back at Trump Media stock’s first month on the public markets, from its highest high, to its lowest lows — and everything in between.
Trump Media got the meme stock treatment and it’s riding high — for now
Former President Donald Trump’s media company, Trump Media & Technology Group, hit the public markets hot on March 26, closing out its debut day trading with an $8 billion valuation. It ended a shortened trading week another $390 million higher.
Trump Media stock plunged more than 20% after the company revealed a $58 million loss
Shares of Trump Media, the company behind former President Trump’s Truth Social, plunged 20% on April 1, after the company disclosed major losses in 2023.
Trump Media has lost about $3 billion in market cap since its debut as the stock sinks again
Trump Media stock tumbled another 10% on April 8, hitting new lows as the shares continued their free fall from opening-week highs.
The former CEO of the company that merged with Trump Media is suing over a ‘coup d’état’
The former CEO of Digital World Acquisition (DWAC), the blank check company that merged with Trump Media in March to take it public, sued his replacement for allegedly hacking his files and staging an “audacious scheme to seize control” of the publicly traded company.
Trump Media stock fell below $30 as its market cap gets cut in half
Trump Media stock briefly fell below $30 per share on April 12, hitting another new low since its debut on the Nasdaq and halving its market capitalization.
Trump Media stock plummets 18% as it plans to issue millions more shares
Trump Media disclosed in a Securities and Exchange Commission filing that it is registering the resale of millions more shares, sending its stock plunging again.
The company also revealed that Trump would be eligible to receive 36 million earnout shares, so long as Trump Media’s dollar volume-weighted average price (DVWAP) — the average share price for a period of time, weighted by volume of shares — was at least $12.50 for a minimum of 20 trading days within any 30 trading day period.
Trump Media’s audit firm sees its business practices come under scrutiny
BF Borgers, firm responsible for auditing Trump Media, was labeled as “so seriously deficient in its performance” that it was removed from a national peer review program in November 2023.
Trump Media announced a live TV streaming platform — and the stock tumbled 14%
Shares of Trump Media fell sharply again on April 16 after it announced that it’s launching a live TV streaming platform tied to its social media platform, Truth Social.
The streamer will offer content “that has been canceled, is at risk of cancellation, or is being suppressed on other platforms and services” the company said.
Trump Media stock surges more than 20% to end weeks of bleeding
Trump Media & Technology Group ended a weeks-long spell of losses on April 17 when its stock spiked more than 20%.
Its shares traded at a high of $27.77, bringing its market cap back up to $3.8 billion and erasing some of the losses it accrued in recent weeks, before dropping off to close at $26.40 per share.
Trump Media got back almost $1 billion in market cap as the stock rebounded
After a weeks-long downward spell, Trump Media & Technology Group stock has been back on the rise — gaining back $1 billion in market value over just two days.
Trump Media says traders might be illegally short-selling the stock
In a letter from Trump Media CEO Devin Nunes addressed to Nasdaq CEO Adena Friedman, Nunes warned the Nasdaq of “potential market manipulation” related to the “naked” short-selling of its stock.
Donald Trump just got more than $1 billion worth of Trump Media stock
Former President Donald Trump pocketed more than $1 billion in paper wealth by the end of the trading day on April 23.
Trump Media is taking claims that its stock is being illegally traded to Congress
Trump Media CEO Devin Nunes called on congressional leaders to carry out a “thorough and expeditious investigation” into what the company claims is “unlawful manipulation” of its stock.
Trump Media is ‘as volatile as any stock I can ever recall,’ expert says
Trump Media’s first month on the Nasdaq has been “abnormally volatile,” according to John Rekenthaler, vice president of research at Morningstar.
Rekenthaler summed up Trump Media’s first month on the Nasdaq as “expectedly unexpected.”
Trump Media’s roller-coaster first-month, from ‘meme stock’ highs to bruising lows
Four charts illustrate Truth Social’s performance and Trump Media’s market cap fluctuate from “meme stock” highs to bruising lows (and back) over the past month.